Geomain, a US and Singapore based start-up, has plans of looking beyond physical addresses by adopting futuristic technology of pinning map coordinates to perfect location search. The company has announced a geo-locating application to make navigation and location search easier.
The Geomain App captures a device's GPS coordinates and enables users to assign a custom name to it, called a Geomain. "Once you register your Geomain, you never need to worry about what your address is ever again because it will always be the same. No matter where life takes you, all you do is pin your new location in the App and Geomain will do the rest. So whether you are ordering a cab, shipping or receiving a package, or calling friends over for the weekend, it makes more sense to share your Geomain instead", said Sol Alavi, founder of Geomain.
A Geomain is deemed to be more accurate than a street address, as it is based on GPS coordinates. "Conventional addresses are very expensive to both create and maintain, are cumbersome to remember and record, and have low utility. Our mission is to replace addresses globally with Geomains over the next few years, and we are seeing a fantastic response from everyone, including large businesses. We already partner with new economy behemoths like Grab and Uber and are seeing strong interest from major logistics players who stand to benefit from the efficiencies that Geomain brings to their business", added Sol Alavi.
A Geomain dynamically points to a physical address or location, whereas a Domain points to a website. The similarities do not end here, because Geomain names can become a valuable commodity – just like Domain names.
Hugh Sutherland, a Geomain investor said, "We already have customers that are buying up Geomains today for re-sale, so in a sense we already see that a secondary market for Geomains is developing."
People have not forgotten the Domain gold rush, so this is a very exciting opportunity for them". Every Geomain has a corresponding QR Code as well, allowing users to scan a QR code to navigate or add contacts to their GeoCards, which is essentially a real-time always current contacts list.
The start-up claims that major advantages of using a Geomain are convenience, security, and especially privacy because every Geomain has PIN-security ensuring that only those who have the PIN are able to visit or navigate to.
Peter Patrick, BizDev Director for UK-based GetGeomains.com Limited, one of the first Geomain Accredited Registrars said, "The uptake for Geomains will be bigger and quicker than it was for Domain names because everyone has an address – whereas Domain Names are primarily limited to businesses".
Whilst consumers can obtain their first Geomain for free via the App, Businesses are required to pay an annual fee for every Geomain name they register. There are plans to launch Arabic, Hindi, Japanese, Korean, Mandarin and Russian Geomain names before end of this year.
The start-up has a patent pending on this technology in dozens of countries.